Thailand economy

Minister of Finance: Thai economy will recover in 2023

The government intends to pour 1 trillion baht into the economy which, together with positive figures from growing trade and export sectors, are expected to fuel all of the economic expansion slated for 2022. 300 billion baht have l The government’s injection will come from investments by state-owned enterprises, while another 600 billion comes from […]

Thailand economy

Thailand’s economy likely contracted in third quarter due to COVID-19 restrictions

After emerging from the worst recession since the 1998 Asian financial crisis in the second quarter, Southeast Asia’s second-largest economy shrank 0.8% in July-September from a year earlier, according to forecasts medians of 13 economists surveyed. On a quarterly basis, gross domestic product (GDP) likely contracted by 2.5% seasonally adjusted over the same period after […]

Thailand economy

Thai economy likely contracted in third quarter due to COVID-19 restrictions – Reuters poll | Invest News

BENGALURU (Reuters) – Thailand’s economy likely returned to contraction in the last quarter, delaying a nascent recovery as strict restrictions to contain the spread of COVID-19 hit consumption and an already struggling tourism sector, said Reuters poll revealed. After emerging from the worst recession since the 1998 Asian financial crisis in the second quarter, Southeast […]

Thailand economy

Thailand’s economy likely contracted in third quarter due to COVID-19 restrictions

A view of Bangkok Harbor along the Chao Phraya River is photographed at sunset in Bangkok, Thailand on June 2, 2021. REUTERS / Athit Perawongmetha / File Photo Register now for FREE and unlimited access to Reuters.com Register Thailand’s GDP contracts 0.8% yoy in Q3 vs. + 7.5% in Q2 Q3 GDP seen at -2.5% […]

Thailand economy

Thailand’s economy will return to pre-pandemic levels in mid-2023, says SCB

BANGKOK, Oct. 10 (Xinhua): Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, expects the country’s economy to return to 2019 growth levels in mid-2023 in a context of improving national and international demand. The weakening of the damage caused by economic scars, including worsening business dynamics, increasingly fragile labor market conditions as well […]

Thailand economy

Thai economy rebounds after rebound in consumer confidence for the first time in 7 months

The UTCC said the consumer confidence score rose to 48.9 in September from 46.7 in August, thanks to the easing of COVID-19 restrictions in 29 dark red provinces, while the combined economic size of these provinces represent 80% of the national GDP. The relaxation of COVID-19 measures and the use of vaccination have led to […]

Thailand economy

Medical marijuana industry to ignite Thailand’s economy

Thailand is fast becoming the main competitor in the Asian medical marijuana and hemp markets. However, full commercialization of the sector and liberal access for private companies is not expected to be implemented until 2024, according to a new report. The Thai medical cannabis market is characterized by high potential. Having rapid regulatory changes and […]

Thailand economy

Thai baht continues to collapse as foreign investors leave Thailand

Krungthai Bank market strategist Poon Panichpibool yesterday reported that the Thai baht is likely to hover between 32.80 and 32.95 as foreign investment continues to leave the Kingdom. He said foreign investors decided to sell their assets in Thailand due to the uncertainty caused by the Covid-19 situation in the country. He too would lead […]

Thailand economy

Will New Marijuana and Hemp Oil Regulations Boost Thailand’s Economy?

In 2019, Thailand became the first country in Southeast Asia to legalize the use of medical marijuana – although several key restrictions remain in place. The government ban on marijuana plants and products containing significant amounts of THC (the psychoactive compound that produces a high) remains in place, although other parts of the plant have […]